First, you earn trade dollars by selling your products and services to other members of the association. Then, you find products and services you wish to purchase on the iTrade or Global Marketplace and pay for them with the trade dollars that you earned.
You may also request a credit line for immediate purchasing needs. Unlike traditional banks, you don’t pay interest on the credit line and we’ll send you new business to pay for it!
iTrade records all transactions and provides real-time and monthly reports through its online system. iTrade's trade managers are available to assist you in finding goods and services, greatly reducing your cash cost (check out the Return on Investment Calculator to see how much you could save).
iTrade has a reasonable enrollment fee and receives a small transaction fee in cash for its services. iTrade uses the comprehensive trading platform called Nextrade enabling you to shop, search and conduct all aspects of trade transactions on-line.
They are a privately issued and circulated medium of exchange that represents the goods and services you have that can be used to acquire what you need.
Use your trade account to offset your cash expenses thereby conserving your cash. Expand economic opportunity within your community. It offers the potential for more exchange between businesses and with citizens in your community. When there is a gap between available goods and services and the needs or desires within a community, the Trade Association provides the means to create an exchange and augment cash resources.
It is an entirely legal means to supplement the use of federal currencies.
The federal government considers them to be the equivalent of cash. Trade exchanges have the same reporting requirements as banks, savings and loans, credit unions and stock exchanges, as defined by the TEFRA Act of 1982. The Trade Association is required to report to you and the IRS, sales for the relevant tax year on a 1099B form. Other countries do not currently have income reporting requirements.
iTrade must have your Taxpayer ID number or social security number to report transactions to the IRS as required by the TEFRA Act of 1982 (see above).
Yes. Expenses made using Trade Dollars create the same deduction as if done in a cash transaction and therefore offset your tax liability.
They are treated in the same manner as cash.
The system software has full tracking and recording capabilities and generates all required reports.
All sales are priced the same as cash. Some discounts and special offers may not apply .
iTrade requires that you supply a credit card number to us when you join so that transaction fees and dues can be automatically charged to you.
8774 Yates Drive, Suite 105 Westminster, CO 80031
